http://www.essentiallyhomeloans.co.uk/blog UK Home Loans Online Mon, 17 Mar 2008 07:57:49 +0000 http://backend.userland.com/rss092 en Sub-prime lenders are using heavy handed approaches in order to manage borrowers who are falling into arrears. This, coupled with bad advice from brokers as well as irresponsible lending decisions, is making things a lot harder for some borrowers. Many of the regulatory safety nets set up by the Financial ... http://www.essentiallyhomeloans.co.uk/blog/safety-nets-failing-to-protect-homeowners.html The Chancellor Alistair Darling has proposed making it easier for lenders to fund 10-year fixed rate home loans. The changes proposed could mean that borrowers would then be tied for longer periods to their fixed rate deal thus helping to stabilise the market. So far borrowers have only been able to ... http://www.essentiallyhomeloans.co.uk/blog/why-are-long-term-fixed-rate-mortgages-so-unpopular.html One of the UK’s leading charities has stated that sale-and-rent-back property schemes are a disaster waiting to happen and something needs to be done sooner rather than later. The claims come from the Citizens Advice Bureau who have called for more official regulation of firms involved in the scheme. Currently firms ... http://www.essentiallyhomeloans.co.uk/blog/sale-and-rent-back-disaster-waiting-to-happen.html New restrictions have been introduced by lenders meaning that high-risk lenders will find it increasingly difficult to secure a mortgage. Because of the changes by lenders to their lending criteria it is expected that the number of rejections for home loans are going to soar. An independent broker has released new ... http://www.essentiallyhomeloans.co.uk/blog/amount-of-people-refused-a-mortgage-set-to-rise.html The decision by the Bank of England to hold rates at 5.5%, shows clearly that it is still not fully convinced that the slowdown in the housing market has gone far enough. Analysts are more doubtful however warning that continuing instability in the credit markets is going to force the Bank ... http://www.essentiallyhomeloans.co.uk/blog/bank-of-england-holding-base-rate.html According to a survey by Nationwide Building Society only 29% of credit card customers are aware of the fact that many credit card providers always pay off debts charged at the lowest interest rate before paying off the debts with the higher rate of interest, making themselves an additional £500 ... http://www.essentiallyhomeloans.co.uk/blog/credit-card-interest-rip-off.html Some experts are warning that the number of repossessions will soar this year as lenders begin to crack down on sub-prime mortgages by pushing up interest rates and cutting down on how easy it is to secure a loan. There are hundreds of thousands of homeowners with poor credit histories and ... http://www.essentiallyhomeloans.co.uk/blog/possibility-of-number-of-repossessions-soaring.html There have been increasingly strong signs that the property market is heading towards a slowdown. The first shock to hit the housing market last summer was the sub-prime lending crisis that resulted in banks tightening up lending criteria and following stricter conditions on extending bad credit loans to borrowers with ... http://www.essentiallyhomeloans.co.uk/blog/the-case-for-a-slowdown-in-the-economy-grows.html One of the most influential economists in the world, Alan Greenspan, predicts that Britain’s housing market is heading for a downturn and it is not going to be pretty. The US property market has been in a lot of trouble recently as a result of the global 'credit crunch' that has ... http://www.essentiallyhomeloans.co.uk/blog/greenspan-predicts-house-market-heading-for-a-fall.html There are growing fears that Britain’s housing sector could be heading for a painful slowdown as the credit crunch affecting the banking sector spills over into the wider economy. Recent figures released by the Building Societies Association show that the value of mortgage approvals for January nose dived by 25% to ... http://www.essentiallyhomeloans.co.uk/blog/number-of-new-mortgages-fall.html